Draganfly Inc. (NASDAQ:DPRO) Sees Large Growth in Short Interest

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 192,700 shares, an increase of 131.6% from the September 15th total of 83,200 shares. Approximately 5.6% of the company's stock are short sold. Based on an average daily trading volume, of 248,600 shares, the days-to-cover ratio is currently 0.8 days.

Draganfly Stock Performance

Shares of DPRO traded up $0.01 during midday trading on Friday, hitting $3.70. 55,954 shares of the stock traded hands, compared to its average volume of 108,956. Draganfly has a 1-year low of $1.55 and a 1-year high of $19.74. The firm has a market capitalization of $182.38 million, a PE ratio of -11.94 and a beta of 2.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.69. The business's 50 day moving average price is $2.85 and its two-hundred day moving average price is $4.81.

Draganfly (NASDAQ:DPRO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Draganfly had a negative net margin of 303.16% and a negative return on equity of 1,845.76%. The business had revenue of $1.27 million for the quarter, compared to analysts' expectations of $2.07 million. Equities research analysts predict that Draganfly will post -5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DPRO. HC Wainwright raised their price objective on Draganfly from $0.50 to $7.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Maxim Group began coverage on Draganfly in a research note on Wednesday, October 2nd. They set a "buy" rating and a $7.00 price objective on the stock.

Institutional Investors Weigh In On Draganfly

An institutional investor recently bought a new position in Draganfly stock. Armistice Capital LLC purchased a new position in Draganfly Inc. (NASDAQ:DPRO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,473,000 shares of the company's stock, valued at approximately $1,515,000. Armistice Capital LLC owned approximately 13.13% of Draganfly at the end of the most recent quarter. 10.39% of the stock is currently owned by institutional investors.

Draganfly Company Profile

Draganfly Inc develops, manufactures, and sells cutting-edge unmanned and remote data collection and analysis platforms and systems in the United States and Canada. The company offers quad-?copters, ???fixed wing ?aircrafts, ground based robots, handheld controllers, and flight training, as well as software ?used for tracking, live ???streaming, ?and data collection.

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